“Prevention is better than cure” sounds mundane but haven’t we heard this saying countless times? Health Insurance Policy is to save us from unexpected financial expenses for which you are genuinely not prepared.
The escalating cost of medical facilities has forced not only older people but also the younger ones to buy it.
Some problems people face where Health Insurance is very useful includes:
1. Accidental Injury:
Whether individual policy or a family floater, if the person covered under the policy suffers an accidental injury her/his cost of hospitalization and treatment will be reimbursed. The extent of damage after an accident can be intense which would need you to rest for weeks.
The cost of treatment can be high and beyond your capacity to afford. So you have a loss of pay plus you have to spend money on the treatment. This is why the health insurance policy will be useful for you.
2. Maternity Cost:
If taken a maternity cover under which the waiting period is over, the health insurance policy will be beneficial. It will cover all expenses related to delivery, pre and post-hospitalization expenses.
In today’s time, the maternity procedures attract a lot of money which otherwise you may have to bear from your pocket. But make sure that the waiting period is over when you apply for the claim.
3. Day-Care Procedures:
Some procedures of treatment does not require hospitalization for 24 hours or more than that. Cataract, Chemotherapy, Dialysis, Angiography, Lithotripsy, and other similar procedures are also covered under the Health Insurance Policy.
For some diseases, the incurred cost may not be high but for some, it may be less. Bearing these expenses from the pocket is not feasible for everyone and hence a health insurance policy can be useful.
4. Critical Illness:
Dreaded diseases like cancer, kidney failure, heart bypass surgery, and others will cause trauma for the family and you. The treatment of such a disease needs a lot of money. You may also require a certain amount per episode of treatment.
To avoid being in stress, buying a Critical Illness Cover with your basic plan is advisable, though it may have some waiting period.
Once the waiting period is over, you will be covered if you suffer from any critical illness. The health policy will cover treatment expenses you may incur including the fee of specialists also.
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5. Alternative Therapeutic Treatment:
Other than the allopathy, alternative therapeutic treatments like Ayurveda, Unani, Sidha and Homeopathy are also covered under the health insurance policy. It is applicable when you seek relief for your illness through any of these therapies.
6. Domiciliary Treatment:
Sometimes you may be treated at home for illnesses for which hospitalization would be needed. These include bronchitis, asthma, epilepsy, hypertension, diarrhoea, arthritis, cough and cold, psychiatric disorder, and others. A health insurance policy will cover your domiciliary expenses also.
7. Post Hospitalization reparations:
At times, for some treatments like heart diseases or transplant, doctors prescribe medicines to continue for a long period of time. These medicines are expensive and often costlier than you expect.
Any expense which you may seek until 90 days after your discharge from the hospital will be covered under the health insurance policy.
8. Pre-Hospitalization Liability:
Suppose you were laid up with fever for 5-7 days and felt very weak. Your blood test reports were delayed. But later when your doctor received them it was established that you had dengue.
You had to immediately seek hospitalization because the blood platelets reduced. Though before admission, your doctor advised you blood tests and some medicines.
Such costs you incur will be covered under your health insurance policies. Pre-hospitalization expenses of 30 days before the date you finally got admitted to the hospital are covered.
Be it general hospitalization for 24 hours or more, day-care procedure, critical illness, or surgical procedures, a health insurance policy will reimburse you as per the limits prescribed. Now, there are many health insurance players in the market.
It has made things a little too complex for you to decide the best insurer. Many insurance companies sell policies online to meet your requirements.
Buying a health policy is based on the service factor, TPA services, a network of hospitals, claims processing time, cashless facility, list of diseases covered, and others.
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